Fuel prices hit record high

The national price for 91 octane is now $2.30/litre – the highest price ever recorded.

AA Motoring’s Mark Stockdale says the last increase in fuel prices, this time led by Z, went up four cents per litre.

“This brings the ‘national’ price of 91 octane to $2.30/litre, the highest price ever recorded – in nominal terms that is; as we note below, we’ve paid much more in real terms when you adjust for inflation.

“Plus the tax on petrol has now broken through the $1/litre barrier. And all this before Auckland Council is due to introduce a 10cpl regional fuel tax in July, and the Government a 3-4cpl increase in petrol excise later this year.”

Why have prices risen 23cpl in the last 2 months?

“International refined commodity prices have risen over 16 per cent since the last price cut in February due mostly to geopolitics,” says Mark, “while the NZ dollar has fallen nearly 5c against the US$.”

11 Comments

Kenworthlogger

The question was rhetorical but thank you for your insight. By the the way Caltex is not ripping me off as I get my fuel from Gull.

Have we noticed yet?...

Posted on 23-05-2018 17:29 | By groutby

,,,how NO-ONE from the major fuel suppliers make comment in regard to fuel prices AND get away with it?...with Australian ULP prices at around AU$1.40 per litre (NZ$1.52) you just HAVE to wonder what the hell is going on. In regards to Diesel, the difference from say...12 months ago, is just staggering, again...we say and do nothing. The government will happily gather extra (much needed for their promises) revenue and will do little in regard to the issue, which of course does not affect the Politicians as WE taxpayers ’pick up the tab’ for their travel. Yes crude US$ per barrel has gone up and noticeably, but nowhere close to it’s past highs, and yet we are paying more and more...any agendas out there we do not know about perhaps?...

Robbing bstards

Posted on 23-05-2018 17:12 | By usandthem

I have just filled up with 95 at Caltex bayfair,at 2.369 cents per litre while 91 was 204.9, a massive difference of 32 cents.This is where the biggest ripoff is occurring.While they are all competing over the price of 91,what they are losing on 91 they are adding it to their 95 price.The price difference years ago used to be 6 cents between the two,so that proves it.

Another rort

Posted on 23-05-2018 16:23 | By maildrop

Any excuse to rip people off. No different to Air NZ, the biggest gouger of them all. But wait, they’re true Kiwi so don’t mention it. Haha. And don’t get me started on builders, tradies and estate agents. Rip off central.

Point Blank

Posted on 23-05-2018 14:23 | By Kenworthlogger

Do you really need that explained to you? Ok here it is. Caltex is ripping you off lol...mystery solved..

re comments

Posted on 23-05-2018 13:58 | By Capt_Kaveman

just look at nz power which is free but nz pay the highest cost v produce, power in nz costs almost nothing to produce eg 2-3c/kw yet nz pay 22-30c / kw, the price of fuel goes to show nz is just one big rippoff of a country and boarders extortion, i cannot understand why people use Shell under the name Z as a vist to oz proves this is ripoff company with prices in NSW some 20c/L more than the others

Bikes for the win

Posted on 23-05-2018 13:53 | By tgacentral

Another reason to build more cycle lanes. We are a growing city. Traffic will not return to what it used to be 5 years ago. Cycling is a cheap solution to keep the city moving, save some cash on petrol and reduce the pressure on roads.

USA

Posted on 23-05-2018 11:54 | By overit

maybe its getting ready for a war.

At a loss..

Posted on 23-05-2018 09:20 | By Marshal

I find it hard to understand how fuel prices are now higher than when oil was $150 a barrel . Oil is currently at around $72 a barrel .. Ripping the public for the sake of US growth maybe..

In our backyard

Posted on 23-05-2018 08:45 | By Gigilo

I definitely think we should not exploit the vast oil and gas reserves of New Zealand. Because then we would pay 50 cents a litre like the developing counties in the world and that would not be fair.